4 questions with FDIC Chair Jelena McWilliams

"I think that the biggest challenge we have is not allowing innovation to happen, or standing in the way of technological developments that could make the system better," McWilliams told Banking Dive. 

By Anna Hrushka • Nov. 12, 2019

Apple Card under investigation for alleged gender discrimination

Customers, such as software developer David Heinemeier Hansson, took to Twitter to complain the credit line offered by his Apple Card was 20 times higher than what was offered to his spouse.

By Anna Hrushka • Nov. 11, 2019

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

SunTrust selling 30 branches to satisfy DOJ antitrust concerns over BB&T merger

First Horizon will assume approximately $2.4 billion in deposits for a deposit premium of 3.4%, and will purchase about $410 million in loans.

By Anna Hrushka • Nov. 8, 2019

7 questions with SunTrust CMO Susan Somersille Johnson

The executive spoke with Banking Dive about fintech partnerships, the challenges that come with a major rebrand, and how tech is transforming the bank’s marketing efforts.

By Anna Hrushka • Nov. 6, 2019

Goldman Sachs bumps up its paid parental leave to 20 weeks

The policy change comes as many other Wall Street banks give less leave to "secondary" caregivers. JPMorgan Chase, for example, faced accusations this spring that it discouraged male employees from taking "primary" status.

By Dan Ennis • Nov. 5, 2019

Bank of America boosts its minimum wage to $20 per hour a year early

The nation's second-largest bank pledged in April to pay at least $20 per hour by 2021. That rate will now go into effect by the end of the first quarter of 2020, the bank said Monday.

By Dan Ennis • Nov. 5, 2019

FDIC says hemp-banking interagency guidance coming within weeks

Agency Chair Jelena McWilliams told Banking Dive she has held meetings with various state officials, asking about applications and how hemp products would be regulated to ensure their THC level is below 0.3%.

By Anna Hrushka • Nov. 5, 2019

OCC shutters NJ bank, marking 3rd failure in a week

Industrial Bank of Washington, D.C., agreed to buy City National Bank of New Jersey's $120.6 million in assets and $111.2 million in deposits. It reopened the failed bank's three branches Saturday under the Industrial name.

By Dan Ennis • Nov. 4, 2019

House bill would require bank CEOs to report to Washington annually

The Greater Supervision in Banking Act would also force top banks to disclose any enforcement or regulatory actions taken against them over the past year.

By Anna Hrushka • Nov. 1, 2019

Sallie Mae expands into cards amid dearth of competition for student credit

Most major banks stopped targeting college campuses after the 2009 CARD Act. That gives the student lender fewer rivals in a market where its name is already known.

By Hillary Richard • Nov. 1, 2019

Why digital bank Varo wants a national bank charter

"I think Varo is going to play a fairly historic role in reshaping the American banking landscape," the company's CEO, Colin Walsh, told Banking Dive at this week's Money20/20 conference in Las Vegas.

By Anna Hrushka • Oct. 31, 2019

BBVA chief blasts tech companies for keeping tight lid on customer data

Giving individuals the power to control their own data is a social imperative that would rebalance the power dynamic, the bank's Carlos Torres Vila said this week at Money20/20 in Las Vegas.

By Dan Ennis • Oct. 31, 2019

Cannabis can be most transparent business to bank, Simplifya exec says

Banks entering the space can plumb a wealth of data, based on the number of fintechs that have sprung up to address the challenges associated with the industry, the company's chief compliance officer says.

By Anna Hrushka • Oct. 28, 2019

Ripple's focused approach is paying off, CEO Garlinghouse tells conference

"I think one of the mistakes that some in the industry have made is they go super broad and not very deep," the tech leader said. "Ripple has done the opposite.”

By Anna Hrushka • Oct. 24, 2019

FDIC's regulatory framework 'ripe for revisiting,' chair McWilliams says

"If we have rules and regulations that we have not touched internally for 10 years or more, open them up to procurement," she recalled telling the FDIC in taking the role.

By Anna Hrushka • Oct. 23, 2019

ICBA launches 'Wake Up' campaign in ongoing fight against credit unions

The Credit Union National Association has criticized the campaign, issuing a statement refuting many of the ICBA's claims.

By Anna Hrushka • Oct. 22, 2019

OCC files appeal over special purpose fintech charter

A district court in October said the agency lacks the legal power to grant a bank charter to a nonbank entity that’s ineligible for federal deposit insurance.

By Dan Ennis • Updated Dec. 20, 2019

JPMorgan Chase expands effort to hire people with criminal backgrounds

The U.S. loses $78 billion to $87 billion a year by excluding people with criminal records from the workforce, according to the bank's research.

By Anna Hrushka • Oct. 21, 2019

Supreme Court agrees to take CFPB constitutionality case

Justice Brett Kavanaugh, while sitting on a lower court, wrote that the "for-cause" language in the Dodd-Frank Act should be struck. If the high court rules similarly, it could affect the structure of other agencies.

By Dan Ennis • Oct. 21, 2019

Libra will have 100 backers before launch, exec predicts

Despite the exits of Visa, Mastercard, Stripe and PayPal, banks and financial institutions have expressed interest in joining the Facebook-led crypto project, said Libra's COO, Bertrand Perez.

By Anna Hrushka • Oct. 18, 2019

CFPB chief Kraninger stands ground amid 2 days of testy hearings

"If you're not following direction from your staff to help consumers that are harmed, then you are absolutely worthless," Rep. Carolyn Maloney, D-NY, told Kraninger, citing a blistering 333-page report on the agency.

By Dan Ennis • Oct. 18, 2019

FASB extends lease accounting standards until January 2021

Private companies and nonprofits get a one-year reprieve on new standards for showing lease obligations in their financials. 

By Robert Freedman • Oct. 17, 2019

Most Americans still have reservations on going cashless, survey finds

Emergencies were the No. 1 reason respondents said they carry cash (60%), followed by small purchases (50%), tips (42%) and to manage their finances (20%), the J.D. Power report found.

By Anna Hrushka • Oct. 14, 2019

OCC fines Citibank $30M over real estate holdings violations

The bank allegedly committed more than 200 violations between April 2017 and August 2019. But it has "significantly reduced its inventory of OREO assets" in the past year, the the regulator's filing indicated.

By Dan Ennis • Oct. 14, 2019

SEC can't force Telegram to reveal its bank records, judge rules

The encrypted messaging app won't have to reveal how it spent $1.7 billion, but it must prove by Thursday that it complies with foreign data privacy laws.

By Robert Freedman • Updated Jan. 8, 2020